Hotel average room rates were almost unchanged in June
It inched up to $273.85.
As tourists flock to Singapore, the hotel average room rate increased to $273.85 in June 2023 from $273.10 in May 2023.
Year-on-year, the room rate was 14.2% higher, figures from Singapore’s Tourism Board (STB) showed.
The revenue per available room (RevPAR) was $220.92, growing 18% YoY in June 2023.STB also revealed that the average occupancy rate for hotels was 80.57%, which was higher by 2.5% year-on-year. This was also slightly higher than May, with a 79% occupancy rate.
For the first half of 2023, which ended June 2023, the average room rate was $272.38, 29.3% higher YoY.
The RevPAR went up 50.5% YoY to $213.56 in the first half of 2023. The average occupancy rate went up to 78.41% in H1 2023, increasing 11% compared to the same period last year.
Also, the available room nights were at 10.22 million in H1 2023, 38.2% higher YoY.
Singapore’s tourist arrivals slightly dropped in May but remained at the one million mark. The Lion City opened its borders to fully vaccinated travellers in April 2022.
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